The Kingdom has pledged $ US 3 billion to support Pakistan and allow for a deferred oil payments to help refrain it off a budget crisis.
(Image Credits: Instagram/ @imrankhan.pti)
Khan met with The Custodian of the Two Holy Mosques, King Salman and Crown Prince MBS prior to the conference
For Khan’s second visit to the Kingdom, he met with King Salman and MBS to discuss bilateral issues. During his visit, “it was agreed that Saudi Arabia will place a deposit of $3 billion for a period of one year as balance of payment support,” according to a statement from the Pakistan Foreign Ministry.
The arrangement between the two countries states that a one-year deferred payment facility for import of oil, up to $3 billion, will be provided by Saudi Arabia. The arrangement will be intact for three years, and will be reviewed from then.
— Foreign Ministry ???????? (@KSAmofaEN) October 23, 2018
Imran Khan addressed a number of issues in Pakistan at the conference
During the FII conference, Khan confirmed that Pakistan was in discussion with the International Monetary Fund (IMF) for a new bailout. Pakistan is also looking for foreign aid to help receive a huge budgetary gap which the prime minister had blamed his country’s previous administration and its mismanagement.
Khan has now been in office for a little more than 60 days and promised (during his election campaign) that he will help create 10 million jobs and establish an “islamic welfare state.”
Prime Minister Imran Khan urged foreign investors to invest in #Pakistan. He put forth investment opportunities in a special session in FII Conference focused on Pakistan, a land of ‘emerging opportunities pic.twitter.com/U8vz0IVlUO
— Asif Mughal (@asifmughalphoto) October 23, 2018